Advocacy Saves Small Firms Billions in FY 2011

February 15, 2012

On Tuesday, Feb. 14, the U.S. Small Business Administration (SBA) Office of Advocacy released its annual report on the Regulatory Flexibility Act (RFA), FY 2011 which showed that Advocacy saved small businesses $11.7 billion in first year regulatory costs and $10.7 billion in annually recurring costs. The report documents federal agency compliance with the RFA and Executive Order 13272, two provisions that require agencies to review the effects of their proposed regulations on small businesses and outline alternatives to minimize that impact.

 

Chief Counsel for Advocacy Winslow Sargeant stated that, “As a former entrepreneur, I can attest that small firms are in a better position to grow, innovate, and create jobs when regulations are less burdensome.”

 

In FY 2011, the Office of Advocacy reviewed hundreds of regulations to assess RFA compliance, and held myriad roundtables seeking input from stakeholders and groups including NSBA. Charged as the federal watchdog for small business, Advocacy in 2011 submitted more than 50 public comment letters to federal agencies on regulatory proposals; participated in or plans to participate in 13 Environmental Protection Agency small business advocacy review panels; and provided training in RFA compliance for several federal agencies including the new Consumer Financial Protection Bureau.

 

 Please click here to view the full report.